Bill Foster: “I urge you to keep the fire lit.”

While the Presidency is often the focus of political pronouncements about macroeconomic conditions, there is no question that it undersells the importance and the independence of the work of the Federal Reserve Board.

I have been amused for a long time at how can it be that there is legislation supported by 70 or 80 percent of the public, a clear majority of Members of Congress, and yet we are not allowed to even vote on it.

The good news is that macroeconomic policy is working as designed.

I think we should consider adopting this in the coming session of Congress, at least on a temporary basis.